Synairgen secures patients for phase III study of Covid treatment, shares jump

Shares in Synairgen rallied on Thursday,after the respiratory drug specialist confirmed it was starting a Phase III study into a potential Covid-19 treatment.

The Southampton-based firm said it had met its recruitment target of 610 randomised people for the study, which will evaluate its investigational drug SNG001 in the treatment of hospitalised Covid-19 patients.

SNG001 is an inhaled formulation of a broad-spectrum, antiviral treatment for severe viral lung infections.

Top line data from the study is expected next year and the firm is preparing to file an Emergency Use Authorisation in the US, conditional on the success of the trial.

Richard Marsden, chief executive, said: "Even with extensive vaccine programmes, in the US alone thousands of patients a day are still being hospitalised due to series Covid-19 symptoms.

"We believe that SNG001 could offer a compelling new treatment option. With the trial having achieved its randomised target, we look forward to announcing top line data early in 2022."

As at 1330 GMT, shares in the AIM-listed firm were up 9% at 196.5p.

The double-blind study is being conducted across 17 countries. SNG001 has already been granted Fast Track status from the US Food and Drug Administration and deemed an Urgent Public Health study by the UK’s National Institute for Health Research.